Brown Wealth Management LLC Invests $225,000 in Coinbase Global, Inc. (NASDAQ:COIN)

Brown Wealth Management LLC purchased a new position in Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 906 shares of the cryptocurrency exchange’s stock, valued at approximately $225,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Coinbase Global during the 3rd quarter worth $94,000. Principal Financial Group Inc. raised its position in Coinbase Global by 219.2% during the third quarter. Principal Financial Group Inc. now owns 53,648 shares of the cryptocurrency exchange’s stock worth $9,558,000 after acquiring an additional 36,843 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Coinbase Global by 106.9% in the fourth quarter. Versant Capital Management Inc now owns 298 shares of the cryptocurrency exchange’s stock valued at $74,000 after purchasing an additional 154 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Coinbase Global by 25.9% in the fourth quarter. GAMMA Investing LLC now owns 1,039 shares of the cryptocurrency exchange’s stock valued at $258,000 after purchasing an additional 214 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Coinbase Global during the 4th quarter worth approximately $1,207,000. 68.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 7,614 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $295.10, for a total transaction of $2,246,891.40. Following the transaction, the director now owns 10,417 shares of the company’s stock, valued at approximately $3,074,056.70. This trade represents a 42.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Armstrong sold 25,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $270.99, for a total value of $6,774,750.00. Following the completion of the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $142,540.74. This represents a 97.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,970 shares of company stock valued at $38,672,615. Insiders own 23.43% of the company’s stock.

Coinbase Global Stock Up 1.8 %

NASDAQ COIN opened at $204.93 on Friday. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41. Coinbase Global, Inc. has a fifty-two week low of $142.58 and a fifty-two week high of $349.75. The business has a 50 day moving average price of $188.51 and a two-hundred day moving average price of $243.40. The stock has a market cap of $52.03 billion, a PE ratio of 21.57 and a beta of 3.65.

Coinbase Global (NASDAQ:COIN) last announced its earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share for the quarter, beating the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, sell-side analysts predict that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on COIN shares. Bank of America lowered their target price on Coinbase Global from $363.00 to $311.00 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Oppenheimer reaffirmed an “outperform” rating on shares of Coinbase Global in a research note on Monday, February 10th. The Goldman Sachs Group started coverage on shares of Coinbase Global in a research note on Thursday, March 20th. They issued a “neutral” rating and a $195.00 target price for the company. Benchmark started coverage on shares of Coinbase Global in a research note on Wednesday, April 23rd. They set a “buy” rating and a $252.00 price target on the stock. Finally, Cantor Fitzgerald started coverage on shares of Coinbase Global in a research report on Tuesday, April 8th. They issued an “overweight” rating and a $245.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Coinbase Global has a consensus rating of “Moderate Buy” and a consensus target price of $285.95.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.